Just looking at shorting on Unilife. Helpful website: http://shortanalytics.com/getshortchart.php?tsymbol=unis
Shows big drops on Nasdaq are mainly due to continued shorting - up to 75% of all sales short in the past few days.
Consistent trend is for at least 50% of all sales to be short.
Is this a conscious thing? Or just 'bots' following a trend?
With short interest now over 90 million shares (17% issued capital), they have to be starting to think about locking in some profits.
Out of interest, more than 20 million shares have been shorted recently - at prices around 36c. With borrowing and transaction costs, you need to be buying well under 30c to recoup anything.
If dilution can be minimised by debt funding, surely the shorts are looking to cover soon?
UNS Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
